Europe's Trade Gaps With Asia Rise, Fueling Yen, Yuan Criticism - by Simon Kennedy
Oct. 18 (Bloomberg) -- Europe's trade deficits with China and Japan swelled in the first seven months of the year, providing fresh support for a push by the continent's governments for stronger Asian currencies. The dozen euro nations imported a record 47.6 billion euros ($59.7 billion) more than they exported to China in the year through July, up 24 percent from the same period a year earlier, Eurostat, the EU's statistics office, said in Luxembourg today. The trade deficit with Japan increased 19 percent to 12.8 billion euros in the January-July period.
The growing imbalance with Asia's largest economies may reignite calls from Europe's finance chiefs for China and Japan to let their currencies appreciate as they seek to protect exports and the strongest economic growth in six years.
No comments:
Post a Comment